Category: Local Business

The Collective for Equality Launched; Aims to Enlist C-Suite commitment for better Workplace Gender Balance in Singapore

Singapore-headquartered WomenIconsNetwork.com (WIN), has announced the launch of an initiative – The Collective for Equality (Singapore) – to promote and support the actions of organizations, programs and people working towards achieving the United Nations Sustainable Development Goal 5 that deals with achieving Gender Equality and empowering all women and girls.

A not-for-profit country-specific initiative, The Collective will be guided on a pro bono basis by a Council of Leaders and will urge CEOs in Singapore to not only commit time, effort and resources for ensuring gender-balanced workplaces but also share their goals, experiences and challenges, thus inspiring equality in all walks of life. The aim is to 1) Expand C-Suite support for Gender Equality; 2) Deepen organization commitment for Gender Equity; 3) Broaden the pool of aspiring women leaders.

Grace Park, Manisha Seewal and Dr Vinika Rao join as the Council of Leaders to advise on The Collective’ efforts in Singapore. The Council will be expanded with other like-minded leaders.

Speaking on the occasion of the launch, Grace Park, Co-Founder & President, DocDoc said, “Though the SDG 5 Goals are common for the world, every country has to work within the boundaries of economic, social, and cultural realities. Thus, it is important that leaders in Singapore come together to discover innovative yet effective ways to overcome the challenges of gender inequities.”

?Every organization irrespective of their size, sector or domicile will have to play its part to ensure that Singapore is truly a gender-balanced place of work. However, we have to recognize and assist organizations that need a nudge and a push to discover the long-term benefits of pursuing a gender-balanced strategy,” said Manisha Seewal, Group CMO, Carro and CEO, Jualo.com.

Dr Vinika Rao, Executive Director, INSEAD Emerging Markets Institute & Gender Initiative and Asia Director, Hoffman Global Institute for Business & Society, said, “Some of the reputed corporates in Singapore have covered considerable ground in the journey towards gender equality. Their experience should both inspire others to follow suit and provide learnings on best practices for developing Diversity, Equity, and Inclusion. This is especially relevant today, to ensure that Covid19 does not disrupt decades of hard-earned progress towards developing a gender-balanced workplace and society in Singapore.”

Building awareness about an organization’s intent for promoting gender-equal place of work is a key benefit of joining The Collective. By sharing news, views, and developments about the gender equality initiatives, an organization can not only attract and retain talent but also distinguish themselves clearly from others in the minds of half the world.

Vishwesh Iyer, Co-Founder & Director, Women Icons Network, said, “The problems of addressing Gender Inequities have been further exacerbated by the pandemic. It is important for leaders to recognize that working towards a gender-balanced workplace is one of the biggest challenges facing us today at the intersection of social and economic inequities.

The initiative, led by the Women Icons Network, aims to internalize the issue of Gender Equity into the collective consciousness as envisaged by the Singapore government. It will also add to the “Conversations on Women Development” that the government has recently rolled out. Following the Singapore launch, The Collective will also be launched in Malaysia and India soon.

About Women Icons Network

Women Icons Network (WIN) is an engagement and data aggregation platform that captures the value of gender-equal places of work across South and South East Asia. Integrating workplace feedback and published data on companies to create a Diversity Metric that differentiates places of work around gender equality, the platform will amplify the efforts of all stakeholders operating in the area of diversity and inclusion.

WIN, headquartered in Singapore, is promoted by two experienced professionals and supported by hundreds of women leaders across South and South East Asia.

For Media Enquiries
Vishwesh@WomenIconsNetwork.com
+65-9101 8487

SMEStreet Foundation Unleashes Prestigious SMEStreet GameChangers 2020 List

SMEStreet Foundation is proud to announce the season one of SMEStreet GameChangers Award Listing Series. COVID-19 has emerged as a global challenge, the SMEStreet GameChangers Award Listing initiative is conceptualized to recognize agile and concerned thought leaders who, through their strategies, initiatives and activities, have contributed in restricting pandemic’s impact or helped MSMEs in getting back to business growthpath.

The first list of recipients of SMEStreet GameChangers 2020 includes Hon’ble Union Cabinet Minister, Road & Transport and MSME Ministry, Govt of India, Shri Nitin Gadkari; Hon’ble Cabinet Minister-Industries & MSME, Uttar Pradesh Govt, Shri Siddharth Nath Singh; Shri Vinai K Saxena, Chairman of KVIC; Shri Arun Kumar Jha, Director General, National Productivity Council; Shri Abhishek Singh, CEO MyGov; Shri Nikhil Arora, Managing Director & Vice President, GoDaddy India; Shri Tejas Goenka, Managing Director, Tally Solutions; Dr. Hari Eppanapally, Chairman, Lead India Foundation, NJ, USA; Shri Ajay Thakur, Head BSE -SME, BSE India; and Shri Khalid Wani, Director of Western Digital India.

“The COVID Pandemic has led to greater global cooperation and collaboration especially in the field of medical supplies and vaccine research. In the fight against COVID, MSMEs hold a key role in restoring economic growth and well being of people. MSMEs have been on the front end of an economic recovery plan by all countries, and hence all efforts are aimed to help MSMEs to come back to normal. Policy initiatives like Aatma Nirbhar Bharat, with a strong focus on restoring liquidity, creating jobs, creating markets for products, and creating a facilitating manufacturing ecosystem all have MSMEs at their focal point. I want to congratulate SMEStreet Foundation for taking this initiative to multiply the goodwill impact of leaders who contributed in the fight against the COVID Pandemic,” commented Shri Nitin Gadkari, Hon’ble, Cabinet Minister, MSME Ministry, Govt of India.

Commenting on the recognition and this activity, Shri Siddharth Nath Singh, Cabinet Minister of UP Government for MSMEs commented, “Since the pandemic started, we started our assessments and impacts of this on the economy of the state. Uttar Pradesh has powerful potential from the perspective of small businesses, local artisans and much more. On the other hand, we have also witnessed major reverse migration from other parts of the country. We have worked in ensuring job opportunities for local migrant workers who opted to come back from various places in the country during the lockdown period. We are thankful to the UP Government’s leadership through CM Shri Yogi Adityanath ji in taking all possible measures to enable a support ecosystem for MSMEs and local workforce. I would also like to thank SMEStreet Foundation for taking this initiative to highlight such success stories from across backgrounds.”

“With Pandemic impact, everything suddenly started getting considered for a restart and business activities. This effect has caused a major halt of financial flow among small entrepreneurs and the local artisans. At KVIC we aimed to break this halt and through our various efforts, we aimed to bring back economic revival for such entrepreneurs and artisans. I wish to thank SMEStreet’s team for taking up this venture of GameChangers as this will spread the right message of a strong come-back spirit among Indian job creators,” added Shri Vinai K Saxena, Chairman of KVIC.

Working rigorously on ensuring a strong communication flow around COVID-19, Mr. Abhishek Singh, CEO of MyGov, MeitY, Govt of India congratulated SMEStreet by adding: “Technology has been playing a critical role in ensuring continuation of normalcy and MSMEs are key to reviving our growth story post covid-19. During the Pandemic, ensuring availability of authentic information and fighting fake news and busting myths have been the focus of the communications on COVID19 by MyGov. In this endeavor, the role of MSMEs has been very important and many of them have emerged as true champions of Aatma Nirbhar Bharat. SMEStreet Game Changers recognition by SMEStreet Foundation is a welcome step for our collective work towards ensuring a robust communication stream around COVID awareness.”

“At SMEStreet Foundation, it is our great pleasure to recognize important game-changers who led our society to come out of this crisis of pandemic, which impacted the economy and the entire economic cycle. Industry leaders, policymakers have made a lot of efforts during the last nine months and ensured a support mechanism for their respective business ecosystem,” says Mr. Faiz Askari, Secretary-General and Editor of SMEStreet Foundation & SMEStreet.in. Congratulating all the distinguished listed GameChangers, he mentioned, “I am thankful to all the listed professionals, policymakers and bureaucrats who made their efforts to support their respective business ecosystem in the times when it is needed most.”

SMEStreet.in will publish detailed success stories of listed title recipients of SMEStreet GameChanger 2020. However, the campaign of SMEStreet GameChangers is still on. We are open for more success stories from the corporate world and recommendations from policymakers who inspired positive change in their respective ecosystem of MSMEs in response to COVID 19 Pandemic. You can click here to nominate your recommendation for SMEStreet GameChnagers 2020 Season 1.

Shri S Ravi Founder and Managing Partner of Ravi Ranjan & Co and Ex-Chairman of BSE India commented, “Whatever we witnesses was a lifetime-first experience, and we never wished to see such conditions again. We realized the importance of motivating such motivated leaders as Game Changers who paved this phase with their dedication and professional acumen in emerging as a winner for their organization and society.”

Shri Arun Kumar Jha, Director General of National Productivity Council also expressed his views by saying, “Well we are committed to working towards ensuring the best level ecosystem for professional productivity. Initiatives like SMEStreet GameChangers will create a strong impact on those who are working hard in ensuring the best for their ecosystem, which got impacted during the pandemic. It is like motivating the motivators, which is a noble cause.”

Representing world’s leading digital company which is committed towards taking businesses online, Mr. Nikhil Arora, MD & VP of GoDaddy India congratulated other recipients of this listing and commented, “Today, as the world is experiencing the unprecedented impact of COVID-19, we at GoDaddy stand committed to support India’s dynamic MSME ecosystem. Digital technology has emerged as a key survival mechanism for businesses and we aim to continue providing MSMEs with all the help and tools they need to successfully run their ventures online. In line with the government’s vision to promote local businesses in the country, we have introduced a slew of initiatives throughout the year, like the GoDaddy Academy, product and pricing incentives and even some philanthropic efforts, to help them get back at pace with their business goals. Motivation can often be in short supply, especially during a global pandemic, and we are extremely honoured and humbled to be receiving this award. We also commend the SMEStreet Foundation for their effort in recognizing all the incredible work being done in these challenging times.”

Congratulating the team of SMEStreet Foundation, Mr. Ajay Thakur, Head of BSE-SME, BSE India stated, “Pandemic has created huge challenge for business operations specially for the MSME entrepreneurs, but as we move ahead, we found that MSME Entrepreneurs require more proactive efforts which can help them to avail the stock market listing. Hence we made necessary steps to ease out the pressure of getting into stock market listing during the pandemic days. We are delighted to be part of the SMEStreet GameChangers listing by SMEStreet Foundation.”

Acknowledging SMEStreet GameChangers as a needed initiative, Mr. Khalid Wani, Director- Sales for Western Digital have shared his perspective on Indian SMEs and their potential for bringing back the economy into the growth path, he said, “SMEs play a pivotal role towards shaping the economic progress of a nation and I would like to congratulate SMEStreet for their role towards creation of a robust platform that helps to create a strong engagement and collaborations across various segments and become a catalyst for growth for SMEs.”

“The COVID-19 pandemic has shown us how fragile, yet how resilient we are as a society, and within that we have seen the tremendous spirit of the entrepreneurs in India and across the world to push through to serve and survive. We are blessed to play whatever small part we can to help them in their journey and are thankful to SMEStreet for the role they have played and for this recognition,” says Mr. Tejas Goenka, Managing Director, Tally Solutions while getting listed into SMEStreet GameChangers 2020.

Dr. Hari Eppanapally, Chairman, Lead India Foundation, NJ, USA stated, “I would like to thank the team of SMEStreet for taking this initiative. Recognizing those who have committed their lives in the last few months in doing everything possible to restrict COVID impact, is a noble work in itself.”

SMEStreet GameChangers is an attempt to recognize such individual success stories which have made a significant impact in their respective horizons of business. Success stories of successful COVID Warriors while doing something innovative, something constructive in sustaining business will get showcased here. We can refer to these heroes as COVID warriors of supporting business.

“Only few companies in the pandemic days were able to record miraculous turnarounds by adapting technology, efficient management and quick turnaround time for implementing realtime solutions to problems that dragged many down. At SMEStreet Foundation, we feel obliged and proud to be honouring such GameChangers via this recognition,” commented Mr. Deepu Madhavan, Director Operations and Research at SMEStreet Foundation.

While thanking the distinguished stakeholders of SMEStreet GameChangers initiative, Faiz Askari also said, “We are convinced that to come out from the Pandemic impact MSMEs require a long-term strong movement. I am obliged and thankful to all the distinguished leaders and thinkers who are mentioned above. Their participation has made the start of this campaign very positive and gradually, the Indian economy will bounce back and MSMEs will become the heroes of this success story.”

However, SMEStreet GameChangers will be a nationwide as well as global movement aimed to highlight those leaders, thinkers and heroes who acted smartly and proactively to curb the economic impact of Pandemic and helped MSME ecosystem at any respective level.

About SMEStreet Foundation
Click here: https://smestreet.in/smestreet-foundation

For More:
Tabinda Hilal
9354645130 /foundation@smestreet.in / smestreet.in@gmail.com

HKTDC Export Index 4Q20: Hong Kong exports expected to grow 5% in 2021

Announcing the Hong Kong Trade Development Council (HKTDC) Export Index for the fourth quarter of 2020 along with the HKTDC export forecast for 2021 are: HKTDC Assistant Principal Economist (Greater China) Alice Tsang, Director of Research Nicholas Kwan and Economist Poon Cheuk-hong [L-R]

The HKTDC Export Index, published by the Hong Kong Trade Development Council (HKTDC), increased further in the fourth quarter of 2020. The index has now risen for three consecutive quarters – rebounding from a record low of 16.0 to 36.2 – revealing a gradual improvement in the sentiment among local exporters. About 60% of those surveyed for the index anticipate sales will increase or remain unchanged in the coming year. Taking all these factors into consideration, the HKTDC forecasts Hong Kong’s exports in 2021 will grow 5% by value year-on-year.

HKTDC Director of Research Nicholas Kwan said that while local businesses still have to contend with weakened global demand, disrupted supply chains and elevated protectionism, business operations are expected to begin to revert to a more normal level when the COVID-19 vaccine becomes available, allowing the world economy to stabilise and rebound. “Hong Kong exports have more room to grow with the new opportunities arising from Mainland China’s ‘dual circulation’ policy and the development of the Guangdong-Hong Kong-Macao Greater Bay Area, coupled with the implementation of a free trade agreement between Hong Kong and the Association of Southeast Asian Nations (ASEAN) bloc, and the Regional Comprehensive Economic Partnership (RCEP) which promotes inter-regional trade,” Mr Kwan added.

The HKTDC has also made an upward revision to its estimates for this year’s total exports, from -10% to -3%. “We are glad to see that the situation is better than expected. Amid the pandemic, local exporters turned swiftly to online sales platforms to connect with buyers and get new orders. Driven by the rise of the stay-at-home economy, the demand for computers, webcams and microphones has increased greatly, making the city’s electronics exporters more optimistic about growth opportunities in the coming year,” Mr Kwan said.

Export Index rebounds

The HKTDC conducts a survey every quarter, interviewing 500 local exporters from six major industries including machinery, electronics, jewellery, watches and clocks, toys and clothing to gauge their business confidence on near-term export prospects. The readings of the HKTDC Export Index indicate an optimistic or pessimistic outlook, with 50 as the dividing line.

HKTDC Assistant Principal Economist (Greater China) Alice Tsang said the index rose 11.1 points to 36.2 in the fourth quarter with a broad improvement across all major industries. The strongest rebound was seen in the jewellery sector, leaping from 20.1 to 33.0. “However, the index remains in contraction territory, indicating that uncertainties have cast a shadow on the short-term export outlook. Among other issues, the survey showed that the pandemic (54.9%), declining global demand (23.8%) and escalated trade tensions between the United States and Mainland China (9.6%) are the major concerns for Hong Kong exporters,” Ms Tsang said.

In terms of major markets, Hong Kong exporters are more confident in the mainland (48.4), Japan (47.3) and ASEAN (47.2), while the outlook for European Union (44.0) and the US (44.4) is less promising. Aside from the main index, all subsidiary indexes revealed an upward trend, showing signs of improvement in trade value, procurement and employment.

Manufacturers show agility

More than 80% of survey respondents said they had been adversely affected by the pandemic over the past three months, with order-size reduction (56.9%), order cancellations (22.3%) and price bargaining (14.0%) cited as the most common downside factors. In response to these challenges, compared with last quarter, an increasing number of local exporters have cut unit prices (27.6%), downsized business (21.8%) or lowered the minimum order quantity (15.5%).

“Meanwhile, Hong Kong companies have shown agility in finding new opportunities such as developing online sales channels (21.8%) and new product categories (13.8%), as well as expanding into the retail market in the mainland and diversifying sales to other overseas markets (3.8%),” Ms Tsang added.

Mainland gets into the spirit

A separate HKTDC survey found that the emergence of a cocktail culture in the mainland has promoted the consumption of spirits, with mainland consumers spending an average of Rmb 3,059 in the past year on buying or drinking spirits, including cocktails (35%), vodka (34%), whisky (33%), brandy (27%), rum (14%) and liqueur (13%). It is expected that the demand for imported liquor such as sake and fruit wine will be on the rise in the coming year.

The average annual spending on imported wine consumed by the survey respondents at home was Rmb 1,407, while that spent for business events and as gifts was Rmb 3,284. France (39%), Spain (12%) and Italy (10%) were the most popular traditional wine regions among those surveyed, while for wines from new producers, they preferred those from the Mainland China (32%), Australia (19%) and Chile (10%).

Mainland consumers prefer to buy wines from large e-commerce platforms (33%), wine stores (25%) and supermarkets (25%). They are also interested in purchasing a wide range of wine accessories such as wine racks (20%), decanters (18%), wine stoppers (15%), glasses (12%) and bottle openers (12%).

HKTDC Economist Poon Cheuk-hong said: “Mainland consumers now have a better understanding of wine. Hong Kong wine dealers looking to tap into the mainland market should consider importing less famous yet high-quality wines from different countries. To match with mainland consumers’ habit of purchasing wine through multiple channels, Hong Kong traders should adopt an online-to-offline sales and marketing model.”

The survey was conducted in May 2020 with about 1,500 middle-class mainland consumers from Guangzhou, Shanghai, Beijing, Chengdu, Harbin, Changsha, Nanjing and Xian polled through an online questionnaire.

References
– HKTDC Research website: http://research.hktdc.com/
– Hong Kong Export Index 4Q20: Exporter Sentiment Improves as Initial Covid-19 Shockwave Recedes https://bit.ly/2JpnkYX
– Hong Kong Export Outlook for 2021: A Cautious, Fragile Recovery Awaits https://bit.ly/3g9NM4p
– China’s Wine and Spirits Market (1): Wine Consumption Trends and Habits https://bit.ly/3qnapr7
– China’s Wine and Spirits Market (2): Imported Wine Selection Criteria https://bit.ly/2I7Q2N4
– China’s Wine and Spirits Market (3): Spirits Purchase Preferences https://bit.ly/37xFmA5
– Podcast: https://bit.ly/3qGnpZ4
– Photo download: https://bit.ly/33QANQn

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries
Please contact the HKTDC’s Communication and Public Affairs Department:
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org

Digital Innovation in Accounting and Finance

At the end of a year like no other, on 3-4 November 2020 over 2,000 accounting and finance professionals from across Asia came together virtually at the Accounting & Finance Show Asia to learn, network and discover new digital solutions for their business.

Over the two days 120 expert speakers shared their insights across 5 channels covering digital innovation, digital practice, accounting tech and cash & treasury. Attendees were able to engage live with the speakers and ask questions during the panel discussions and presentations through the event platform’s live discussion feature.

All sessions were screened live and made available on demand, making it easier than ever before for attendees to join all the relevant sessions at their convenience. In total we saw over 16,000 session attendees within just two days.

Our Sponsors showcased a range of innovative digital solutions designed to change the way that accountants and finance professionals work and run their business. Our Sponsors included Xero, Intuit QuickBooks, DocuSign, ApprovalMax, BGL, Fathom, SAP Business ByDesign, Western Union and many more besides. Each of our sponsors shared content, success stories and product demonstrations. Attendees could follow up for more information by visiting each Sponsor’s virtual booth, and each Sponsor could proactively reach out to relevant event attendees.

Our virtual event platform is powered by AI, matching attendees based on their profiles and activity. Attendees and Sponsors were able to connect, message and set up virtual meetings with one another all within the platform. Over 4,000 contacts were made, almost 20,000 discussions created and over 24,400 messages were exchanged on the platform in just two days.

At the Accounting & Finance Show Asia, we drive the adoption of digital tools and technologies in accounting and finance. We look forward to meeting you virtually at our next Accounting & Finance Show Asia event.

If you want to be part of our future events, contact Laura Binns at
laura.binns@terrapinn.com